I have most of my investments in non US companies that make real things for an inflation hedge. Not really interested in US stocks right now.
Another transplant from IV. Hey everyone.
Like many, I have some energy exposure (BPZ being the most notable), but have been taking some profits on the move in the past couple weeks on other stocks. About 90% cash right now.
Hopefully, we can make this or wherever we wind up useful, uncensored and keep the wasteful posters out. I like difference of opinion (makes me think about things), but some of the posters did nothing but stir the pot.
GLTA.
Good Morning everyone! I'll keep this spot bookmarked for future references. Thanks for the invite and I'll try not to be too much of a pot stirrer.
Like a lot of people I lost a ton of money in the last year. From Zenith to Nadir, I was down about 65%. I have taken all my money out of my brokerage account (what was left of it) and invested in private companies and oil and gas interests. Much more satisfying.
I have a little money left in the market in mine and my wife's IRA accounts. These accounts are about 30% cash right now. The rest is in XOM (slow and steady with a great management that won't piss my money away), BRY and IOC.
I think IOC has the potential to be one of those rare stocks like UPL was a few years ago.
Generally I think the stock market is a sucker's game set up with a huge house edge. In the old day's a shareholder may have been treated as a company owner, but not anymore. A shareholder is more akin to a bagholder or stool pigeon for management. Until I see a huge change in that I will stay out of the market for the most part.
Again thanks for the invite and hope to read more of how you guys are coping these days.
We certainly "live in interesting times"!
Hello everyone.
Thank you Twohoot and Windfallwilly for the invite.
Wherever we end up, may I suggest eveyone share their professional/investment background so we can better appreciate the contributions of all the posters.
Good luck to all!
One thing that struck me about the CWEI board was what Windfallwilly said that Blue told her about the changes. Blue said he went by the reccommendations on a particular post about the content of messages. That would make it necessary to rec each post you agree with or the poster themself. This AM there was a post by Xoil about Ron Paul and his take on secession from the US because of policies of the US and their infringement on states which at the time of this post received 16 recs. A very informative article. It was immediately attacked as a worthless political post not having anything to do with O&G posted by any_ole_email which received 3 recs and a followup by pirate01. It takes a real idiot to not see the relationship of US policy and and politics on O&G especially dealing with Texas. I suggest we rec each and every post from this core group on the CWEI board and perhaps that will prevent Blue from any further action. I too was tired of the bickering and it seemed to come mostly from those who for years were one way in their attacks and now do not want anything posted that could in anyway be a criticism against the Bozobama, as if Bush were not criticized more and for the same reasons. Why take reason to a reccommendation fight?
I have run banks, been a real estate broker and developer and with my PE sons help have invested in a few oil and gas wells. I got short CRK this morning - they announce earnings this afternoon which is projected to be a loss and have no hedges. I am also short treasuries and PYEN which has 63 out of 348 rigs working.
Howdy JC,
Also looking for IV alternatives; I'll tag along with the CWEI group - where ever that takes us. Maybe I'm the youngster here, maybe I'm not - doesn't really matter. Graduated A&M, class of '95 then TCU five years later. Texas born and raised.
I've always enjoyed your comments, combination of learning and laughing for me - a modern day Mark Twain. Same goes with many of the 'old school' CWEI posters - windfallwilly, coolreit, Taylor, et al.
I grew up in Midland during the boom & bust times. Almost the entire family worked in the energy patch at one time or another - some still do. Now I'm between Ft Worth & Weatherford (Barnett epicenter) and work in a totally different industry. That said, I still have investments in the O&G space - lucky enough to fall into a great name or two since the late 90s. Anyway, as I have yet to do something profound (or at least tell a good story), I'll do more of the listening while ya'll do most of the talking.
russ
ps - I drive through Brady regularly, would enjoy meeting you in real life. Do you do autographs? :-)
Hi guys!
Just a quick hello. Good to have a back up just in case. Looks like it's getting a bit wierd over at CWEI these days. It's odd that after years of putting up with political bashing at Yahoo and IV, there is sudden indignation about political posts from the same people who relentlessly bashed away against Conservatives and Libertarians. Now even Blue came out of hibernation to do a little attacking of his own last week. Gee, where was he for the last several years? I never got into the political posts over the years until CV501 (and his many aliases) stirred things up. I also noticed that the board stats have had fewer people visiting since the site went "premium", and posters were censored, terminated or restricted. It's possible that IV was just not ready for PrimeTime. I suppose that since it has become dominated by a minority of lefties trying to have their way or squelch anyone of opposing views, it's best to have a gathering site.
Cheers!
- Black Blade
<< I drive through Brady regularly, would enjoy meeting you in real life. Do you do autographs? :-) >>
I am in the phone book so call and I'll meet you at the Dairy Queen or some other place. I do autographs on fully funded unsecured loan agreements only. Bring cash.
Cordially,J. C. Harperwww.jcharper.net
Thanks for getting a fallback site and the invitation to join in.
Petroleum geologist here - 25 years in June, Independent the last 14. Texas born and Texas bred so when I die I'll be Texas dead. Trinity University in San Antonio. I work the interior salt basins (E. Tx., N. La. and Ms. - though I will venture over to W.Tx if it looks like $$$). I follow the Haynesville by virtue of some shallow HBP acreage, DNR because they "own" most of MS, but I primarily work 2 or 3 plays that I've been involved with over the last few years - some shallowish oil and deeper gas plays.
I parked a % in NGT (thanks Twohoot) around the 1st of November. GOLDX, ADM, Cash. Mostly WI and ORRI in areas that I know and understand.
I enjoy the insight of the core posters, as well as the humor involved therewith. Thanks again!
I posted a followup at the IV NGT board a week or so ago. I think falling bond prices (rising rates) might cause NGT to go down a bit since about two thirds of the underlying value of NGT is zero-coupon treasuries. I plan to hold until liquidation and have hedged my interest rate risk so I am not concerned. Traders might find it distressing though.
Hi Twohoot (and everyone else) Thanks Susan for the heads up! I do wish we could find a good dialogue board. Perhaps one of the many unused boards at IV?? I do like the set up better as it is easier to follow threads etc.
Re current investments. I have made a bunch of money in casinos after having bought them when everyone hated them. Now they are awful high, relatively so. Own a ton of LUK as it is a great distressed asset buyer, considering the recession. and a Bunch of foreign ETFS; EWS EWM EWH EWZ TWN and TDF. At present I am short the Nasdaq market; buying QID into weakness, As I believe this is merely a sucker's rally. Re energy; I own; ACI CNX COG CHK PBR and BPZ. Overall, I remain greatly concerned about the current situation re the country as it relates to economics and the rule of law re contracts. Regards to all, and please keep me informed where you guys decide to land , Charles (Sylamore03)
Oh yes, my Profession,; Historian (retired) and an investor; managing a Family Trust for a bunch of spend thrift ingrates! LOL.
Good to hear from you. I have always respected your comments. If the problem at IV is systemic (ie management) like it was at Yahoo, going to another IV board is just moving from room to room in a burning house. I still haven't made up my mind about IV but thought it prudent to set up and place to preserve the connections among O&G professionals and experienced investors that made CWEI great at Yahoo and later IV (see the post here entitled "A Little History").
We lost a lot of talent last summer that I don't know how to contact. Susan and others are better at that than I am.
I also like message board discussion better than the forum - if the problems of multiple aliases and abuses of anonymity can be mitigated. Think of this as more of a rallying point than a destination.
Cordially,John C. Harper
JCHarper:
I've followed NGT since the IPO in 1993. The $20/unit from the zeros is a given. At the time of the IPO, the estimated value of the remaining gas in 2013 was between $2 & $4 per unit. I'd guess it will be a little above that as things stand. Let's arbitrarily say $5/unit. The only thing that concerns me now is, what will be the purchasing power of the $25/unit you will receive in 2013 in 2009 dollars?
While it doesn't have the US Tsy guarantee of 80% of its value, LINE, (RLI= ~21 years), currently yielding 15% or so, partly return of capital, and fully hedged thru the end of 2011 and 62% hedged into 2012, strikes me as a very attractive alternative. Strong management. Mike Linn owns a ton of stock. FWIW.